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Market Update / Space Reduction Program

The G6 carriers ( Hyundai, APL, Hapag, Mitsui, NYK and OOCL )have announced a winter space reduction program. Please see JOC article below. This action will create space shortages with the goal to increase the rates or at minimum keep them at current levels. We are awaiting announcement from some of the other carriers.

This will increase the demand for space on all sailings /vessels.

#1 Instuct your factories/vendors to book early. The sooner your shipments are booked the better we can insure sailing or find a suitable alternative .

The space in Oct for both USEC and USWC is getting tight because the carriers have implemented the winter space reduction program.

CKYH and G 6 take away about 14,000 teu per week from USWC and about 10,000 feu from USEC, if this trend remain the space will be getting tight and rates will hold or go up. However there is one major deciding factor not yet know, MSK, MSC and CMA, there is no news if they will also join the winter program action, if they do, space in the market will definitely get very tight and rate will go up, but it they don’t the chance of rate increase in Nov becomes less. We are still waiting for the announcement.

G6 Alliance Cancels Eight Asia-Europe Sailings for Winter

JOC Staff |

Members of the G6 Alliance have withdrawn eight Asia-to-Europe sailings, effective from late October 2013 to February 2014, in response to expected low demand during the winter season.

The void sailings will be made on the following Asia-North Europe services:

· Loop 7 service in week 44, with an estimated time of arrival in Qingdao, China, on Oct. 28.

· Loop 4 service in week 47, with an ETA in Ningbo on Nov. 23.

· Loop 6 service in week 48, with an ETA in Kaohsiung, Taiwan, on Nov. 25.

· Loop 1 service in week 1, 2014, with an ETA in Kobe, Japan, on Jan. 3.

· Loop 6 service in week 7, 2014, with an ETA in Kaohsiung on Feb. 10.

Void sailings will also be made on the following Asia-Mediterranean services:

· EUM service in week 44 with an ETA in Busan, South Korea, on Oct. 27.

· EUM service in week 48 with an ETA in Busan on Nov. 24.

· EUM service in week 7, 2014, with an ETA in Busan on Feb. 9.

The G6 Alliance noted that it will continue to offer a variety of services between the Far East and Europe covering all major port pairs with weekly sailings, and will make service adjustments where necessary. The G6 Alliance members are APL, Hapag-Lloyd, Hyundai Merchant Marine, Mitsui O.S.K. Lines, NYK Line and OOCL.